who else to bring in on this than leslie picker billion on citi. this is a big fight. >> it is value act does take these big, concentrated bets. banks have been a focus for them, but this 1$1.2 billion stake in citi group, they've been building that up for about 45 months. it doesn't appear value act is looking to push for major changes at the bank just yet, but believes citi could return more capital to shareholders, that's what they're starting with in their investor letter. value act writes we believe the u.s. banking system has a structurally lower risk profile than any time in our lifetime. the firm points to scale as a key driver of greater profitabilities. value act believes that citi's restructuring has not been adequately priced in by the market and says citi should generate more than 15% return on tangible common equity by 2020 and deliver eps of double that level from 2017.